UK Mortgage Calculator
Calculate your monthly mortgage repayments — UK property price, deposit, interest rate and term.
Last updated: 25 July 2026
Monthly repayment
£1,417.37
per month
Loan amount
£255,000.00
LTV: 85.0%
Total to repay
£425,211.85
over 25 years
Total interest
£170,211.85
40.0% of repayments
📊 Year-by-year breakdown (first 5 years)
| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| 1 | £5,649.04 | £11,359.43 | £249,350.96 |
| 2 | £5,908.56 | £11,099.92 | £243,442.40 |
| 3 | £6,179.99 | £10,828.48 | £237,262.41 |
| 4 | £6,463.90 | £10,544.57 | £230,798.51 |
| 5 | £6,760.85 | £10,247.62 | £224,037.65 |
🔒Calculated in your browser. For estimation only — speak to a mortgage broker for actual quotes.
Buying a home in the UK? This calculator shows exactly what your monthly mortgage repayment will be — plus total interest over the full term and a year-by-year breakdown of principal vs interest. UK mortgages typically run 25-35 years, with interest rates current as of 2026.
How UK mortgage repayments actually work
Your monthly payment is worked out using an amortisation formula. Each month you pay interest on the outstanding balance plus a slice of the capital, so early on most of your payment goes on interest, and near the end most of it clears the loan. This is why the first few years feel like slow progress — you are paying interest on a large balance.
Your deposit and the interest rate do most of the heavy lifting. A bigger deposit means a lower LTV (loan-to-value), and lenders reward that with a better rate. Go from a 5% deposit to a 15% deposit on the same house and you can easily knock a full percentage point off the interest. That is thousands over the term.
Fixed vs variable: a fixed rate locks your monthly payment for 2, 3, 5 or 10 years, so it never changes even if the Bank of England raises rates. A tracker follows the base rate up and down. Most UK borrowers choose fixed for the certainty, accepting a small premium for it.
A rough benchmark: borrowing £200,000 over 25 years at 4.5% costs about £1,110 a month; at 5.5% it jumps to about £1,230. Use the calculator above with your own price, deposit and rate to see the exact figure.
Once you have a monthly figure, the next questions are usually whether buying beats renting at all (rent vs buy calculator) and how much cash you need on top of the deposit (house buying costs).
Frequently Asked Questions
How is mortgage repayment calculated?
UK mortgages use the amortisation formula: M = P × r(1+r)^n / ((1+r)^n − 1). M = monthly payment, P = loan amount, r = monthly interest rate, n = total months. Most UK mortgages are repayment (capital + interest), not interest-only.
What LTV do I need for a UK mortgage?
Most UK lenders require a minimum 5-10% deposit (90-95% LTV). The best rates are available at 60% LTV (40% deposit). First-time buyers can get 95% LTV mortgages through the government-backed Mortgage Guarantee Scheme.
How much can I borrow for a UK mortgage?
Most UK lenders offer 4-4.5× your annual gross income. Some may go to 5-5.5× for high earners. Use this calculator to work backwards from a property price to see what monthly payment you need to afford.
→ More: Complete mortgage guide — repayment formula, LTV, fixed vs variable rates
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